Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 3.1% on Analyst Downgrade

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) were down 3.1% on Thursday after KeyCorp lowered their price target on the stock from $12.00 to $10.00. KeyCorp currently has an overweight rating on the stock. Recursion Pharmaceuticals traded as low as $6.98 and last traded at $7.26. Approximately 12,980,114 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 17,259,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.75.

Insider Activity

In other news, Director Blake Borgeson sold 11,447 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.67, for a total transaction of $76,351.49. Following the completion of the sale, the director now owns 7,089,007 shares in the company, valued at approximately $47,283,676.69. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $6.31, for a total value of $37,860.00. Following the transaction, the chief operating officer now owns 521,138 shares in the company, valued at approximately $3,288,380.78. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,341 shares of company stock valued at $393,490. 15.75% of the stock is currently owned by company insiders.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RXRX. Charles Schwab Investment Management Inc. boosted its stake in Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after buying an additional 288,926 shares during the period. FMR LLC boosted its holdings in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after acquiring an additional 170,810 shares during the period. State Street Corp grew its position in Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Recursion Pharmaceuticals by 13.7% during the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after buying an additional 656,003 shares during the period. Finally, Perceptive Advisors LLC purchased a new position in shares of Recursion Pharmaceuticals during the second quarter worth about $5,769,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Recursion Pharmaceuticals Price Performance

The company has a 50-day moving average of $6.94 and a 200-day moving average of $7.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -4.50 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business’s quarterly revenue was up 147.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.43) earnings per share. As a group, equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.